Small and Minority-Owned Businesses
President Obama has passed 18 tax cuts for small businesses; benefiting up to 1.9 million African American owned businesses.
Under President Obama, the Minority Business Development Agency has invested in 1,108 contracts and finances for African American owned businesses, totaling $3.4 billion.
President Obama passed the Small Business Jobs Act of 2010, which supported $12 billion in small business lending, of which a 21% share of the loans went to minority-owned businesses.
President Obama established the Inter-agency Task Force on Federal Contracting Opportunities for Small Businesses to ensure small businesses can participate in the nation's economic recovery, including small businesses owned by women, minorities, socially and economically disadvantaged individuals, and service-disabled veterans of our Armed Forces, as well as HUBZone small businesses.